Insurance Premium Services, Inc. v. Wood

The Commissioner of Insurance of the State of Indiana, as Liquidator of Universal Automobile Insurance Company, an insolvent insurance corporation organized and existing under the laws of Indiana, brought this action against Mid-States Underwriters, Inc., now known as Insurance Premium Services, Inc., to recover an alleged balance for premiums on policies sold in Tennessee.

When defendant learned of the impending or threatened insolvency of the Universal Company defendant’s President, Mr. Massey, without the knowledge or consent of his customers holding policies in the Company, procured…